Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Wednesday, 08 March 2017

Richmond, Va., Office Property Backing CMBS Loan Offered for Sale

American Real Estate Partners is offering for sale Riverside on the James, a 261,527-square-foot office property in downtown Richmond, Va. Cushman & Wakefield has the listing for the property, which serves as collateral for $43.4 million of securitized debt.

The following story has been edited to properly identify American Real Estate Partners, owner of Riverside on the James.

Commercial Real Estate Direct Staff Report

American Real Estate Partners is offering for sale Riverside on the James, a 261,527-square-foot office property in downtown Richmond, Va.

The Herndon, Va., investment manager is offering the property, at 1001 Haxall Point Road, near Interstate 95, through Cushman & Wakefield.

The property was on-track to generate about $6 million of net operating income last year, according to servicer data compiled by Trepp LLC. Based on the NOI, as well as a capitalization rate of 7 percent, the 15-story property could be valued at about $86 million, or $326/sf. 

A comparable...





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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

MOODY'S/RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

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